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AFD : an institution serving development

The French Development Agency is an international financial institution at the service of financing development and global goods.

AFD, being active in 60 countries over the world, provides funds for economic and social projects implemented by public authorities, public enterprises or the private sector and associations. 

AFD, which is the key operator in France’s official development assistance, implements its interventions that aim to reach the Millennium Goals at the crossroads between economic growth, poverty reduction and environmental protection.

AFD provides financing to public sector businesses and administrations in the form of credits or subventions for investments that contribute to the reduction of poverty by supporting the introduction of a sustainable development and for the development of economic and social infrastructures. At the same time, AFD supports the establishment of public policies in conjunction with its supervisory authorities and the French influence in the development sphere.
In 2007, AFD has committed 3.5 billion Euros to investments all over the world.
 


AFD in Turkey

AFD started its activities in Turkey in 2004 and opened a representative office in Istanbul in August 2005.

In Turkey, AFD grants long-term credits (between 10 and 15 years), at flexible rates tied to Euribor, according to the risk analysis and to the expected social and environmental impacts.

From 2004 to the end of 2009, AFD has committed 960 million Euros, including 200 millions Euros through its subsidiary Proparco, specialized in private sector financing. These financings were mainly granted to banks with an aim of supporting the investments of SME’s (small and medium sized enterprises) involved in corporate environmental and social responsibility (CSR) programs and in favor of municipalities in order to finance their infrastructure programs.
 


“Meeting in Turkey” Documentary

One of the main aims of AFD’s strategy in Turkey is to promote corporate social and environmental responsibility (CSR) of the SMEs. In this respect, AFD has granted a credit line of €50m to HALKBANK in order to re-finance the investments of the SMEs, among which the TEKO Company takes place, which is located in the suburbs of İstanbul.
 
To illustrate the foregrounding ideas for the progress of awareness in Turkey, in the context of social and environmental responsibility, AFD produced a documentary in cooperation with TEKO Company, which also faces the same difficulties as many Turkish SMEs.